Industry News

New Zealand Aims to Double Mineral Exports with New Seabed Mine

New Zealand Aims to Double Mineral Exports with New Seabed Mine

Energy Monitor reports that the Government of New Zealand may approve a second application for a prospecting permit to mine seabeds off the western coast of Taranaki.

The application was submitted by Ngarara Exploration Limited (NEL), is seeking permission to mine for a metal that has been said to be a more renewable option that lithium in batteries: vanadium.

NEL follows Trans-Tasman Resources (TTR), an Australian mining interest already seeking approval to process 50 million tonnes of iron sands just off the Taranaki coastline.

A New Minerals Strategy

This news comes after the release of a proposed draft for New Zealand’s new Minerals Strategy.

In the draft, Minister for Oceans and Fisheries Shane Jones provides insight into New Zealand’s motivations for approving additional mines. He explains that the strategy “will put in place actions that will lead us on an export-led growth pathway to double the sector’s exports to $2 billion by 2035.

“Currently, New Zealand’s production is limited to a handful of minerals and metals. Our vast mineral reserve—and the role it could play in transforming our future—remains largely unexplored… Other countries use their minerals sectors as cornerstones of their economy to support the sustainability of their regions, to increase resilience, and to boost prosperity.”

Jones initially launched the draft of the proposed strategy for New Zealand’s minerals sector in May 2024.

The Government of New Zealand is seeking feedback on the draft strategy to This email address is being protected from spambots. You need JavaScript enabled to view it. by 5 pm on July 31, 2024.

"New Zealand debates second seabed mine in push to double mineral exports" was originally created and published by Energy Monitor, a GlobalData owned brand.


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